Russian Bankers Charged $900 Million for National Bank Trust’s Collapse

By in

The England and Wales High Court has ruled that 3 former shareholders of the Russian bank National Bank Trust were involved in a scam that led to the bank’s subsequent liquidation.

The businessmen ordered the bank to make unsecured loans of billions of rubles to overseas companies secretly controlled by them and concealed the real position by engaging third parties to create falsified beneficial ownership documents (in National Bank Trust v Yurov, 2020 EWHC 100).

The three men, who now live in the US and UK, were ordered to pay compensation of USD $900 million, after the bank had a global freezing order on all assets.